August, 2021

• 2 August

  Boeing jumps on first profit since 2019 as Covid woes ease

  

  Bloomberg Boeing Co earned a profit for the first time in nearly two years, surprising Wall Street and hinting at a budding turnaround after one of the worst financial crises in the planemaker’s century-long history. The shares jumped. Adjusted earnings of 40 cents a share weren’t the only sign of progress in the company’s second-quarter financial results. In addition, the …

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• 2 August

  British aviation regulator to oversee space for ‘launches’

  Bloomberg Britain’s aviation regulator will now oversee space, gearing up for what’s expected to be a surge in missions as the cost of commercial launches tumbles. The Civil Aviation Authority will take on the role immediately and accept applications from any company that wants to operate under a UK space license, it said. Potential customers include satellite firms and spaceflight …

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• 2 August

  Dole drops 9.4% after trading debut

  Bloomberg Dole Plc, the world’s largest produce company, fell 9.4% in its trading debut after delaying and downsizing its US initial public offering to raise $400 million. Share’s of Dublin-based Dole, which sold at the bottom of a lowered range for $16 in the IPO, opened trading at $15 and closed at $14.50 in New York trading, giving the company …

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• 2 August

  Deutsche Bank struggles with slew of departures in US wealth

  

  Bloomberg Deutsche Bank AG has lost a string of US-based wealth management executives over the past year, as Chief Executive Officer Christian Sewing struggles to expand in the lucrative business of managing rich people’s money while keeping a lid on expenses. At least 10 senior bankers and numerous junior employees across the world’s largest wealth management market have left, according …

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• 2 August

  NatWest reversing more loan provisions, plans buyback in Q2

  

  Bloomberg NatWest Group Plc is reversing more of the provisions it took early in the Covid-19 pandemic as the British economy rebounds, helping it beat earnings forecasts in the second quarter and return cash to shareholders. The UK’s biggest corporate lender posted an operating profit before tax of 1.6 billion pounds ($2.2 billion) in the second quarter, compared to a …

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• 2 August

  Monte Paschi is Europe’s worst lender as UniCredit deal looms

  

  Bloomberg A day after UniCredit Spa announced talks to buy it, Banca Monte dei Paschi di Siena SpA was the worst performer in European regulators’ stress tests and the only one to have a key measure of capital wiped out. That’s creating questions over the mechanics of a deal engineered by UniCredit Chief Executive Officer Andrea Orcel and the Italian …

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• 2 August

  Lloyds raises outlook on improving UK recovery

  

  Bloomberg Lloyds Banking Group Plc beat forecasts in the second quarter and lifted its guidance for the year as it released further provisions it had set aside for loans going bad during the pandemic. Pretax profit of 2 billion pounds ($2.8 billion) came in ahead of analyst expectations for 1.4 billion pounds, according to a consensus compiledby Bloomberg, and compares …

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• 2 August

  JPMorgan names Ben Walter head of banking unit

  Bloomberg JPMorgan Chase & Co tapped Hiscox Ltd’s Ben Walter to lead the firm’s business-banking division, succeeding Jennifer Roberts, who was named head of consumer banking earlier this year. Walter, 47, will join the biggest US bank in October as chief executive officer of the unit, which provides services to small businesses with as much as $20 million in annual …

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• 2 August

  BNP profit beats as CEO Bonnafe sees rebound in equities

  

  Bloomberg BNP Paribas SA got a boost from lower provisions for bad loans and a rebound in equities trading last quarter, as Chief Executive Officer Jean-Laurent Bonnafe builds up the trading business. Revenue from the stocks unit more than doubled from a year earlier, helping drive a 27% jump in overall profit that topped analysts’ estimates. Still, the Paris-based lender …

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• 1 August

  Big rethink ahead for Chinese stocks listed in US after July

  

  Bloomberg It’s been a hellish month for China-based companies listed in the US. A clampdown by Beijing authorities led to the worst selloff since the financial crisis, prompting a broad reassessment for a burgeoning corner of the world’s largest stock market. The Nasdaq Golden Dragon China Index — which tracks 98 of China’s biggest firms listed in the US — …

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